Are You Maintaining Good Organizational Governance?

Do you know if your organization is maintaining good organizational governance? Good organizational governance is imperative to an organization for passing the will and interest of your stakeholders. As a director, you can ask yourself these questions to evaluate your management:

Is the organization clear on the outcomes for which it exists to achieve?

What is the board’s role and how does it add value to the organization?

Is the existing separation of roles and responsibilities between the board and management formally documented, commonly understood and respected in practice?

What processes are in place to ensure that the board spends sufficient time focusing on emerging trends and anticipating the future needs of the community it serves?

What processes are in place to ensure management supplies sufficient operational information for the board to fully exercise its oversight duties? (CPA Canada, 2014)

Asking yourself these questions, along with the summarized list from our friends at Miller Thomson LLP is a good starting point to check if your charity and/or not-for-profit organization (NPO) is compliant. Click here to see if you are following best practices of organizational governance. The following document from CPA Canada is another great resource to evaluate you and your team.

If you have any questions or concerns, the team at RLB is only a call away! Reach us at 1-866-822-9992.

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ABOUT THIS BLOG

We are passionate about making a difference in your business and your life. We are accountants, advisors, business builders and entrepreneurs. As accountants and advisors, we are fortunate to work with highly profitable, growing businesses from a few employees to hundreds of employees. As business builders and entrepreneurs, we have grown our own businesses quickly and profitably. With this blog, we hope to share some of our observations, successes and lessons learned in the hope that the information will contribute to your success.